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Porcupine Flat Mill

The Porcupine Flat Gold Processing Facility is located adjacent to the Maldon town site, 140 kilometres northwest of Melbourne in central Victoria. The 150,000tpa CIP plant was originally constructed and commissioned in 1989 by Triad Minerals to treat oxide material from the nearby Union Hill open cut, with subsequent milling campaigns including underground sulphide ore from the Eaglehawk and Linscotts reefs in 1996-97 (Alliance Resources Limited) and from the Alliance South Shoot in 2014 (Octagonal Resources Pty Ltd). In 2015 the Company purchased the Porcupine Flat Gold Processing Facility from Octagonal, to process ore primarily from the A1 Gold Mine.

Recently the Company has invested heavily in improved maintenance and upgrading of the mill.

Maldon District Exploration

The Company is committed to economic assessment and development of several mining licences in the district with oxide open cut potential including Stage 2 mining of the small Black Reef open cut at Wehla, the larger Pearl Croydon Project on the Amherst Goldfield and the Specimen Reef deposit on the Dunolly Goldfield.

The Company is actively progressing mining studies and approvals for each of the three projects, the largest being Pearl Croydon, which contains companies the second largest mineral resource.   The aim is to use the potential open cut oxide opportunities to supplement feed to the Porcupine Flat Process plant.

Investment Highlights

Advanced project on granted mining lease – fully operational mine site including underground development & infrastructure.

Mineral Resources in accordance with the JORC Code (2012) Indicated – 250,000 t @ 5.1 g/t for 41,200 oz Au Inferred – 1,170,000t @ 6.4 g/t for 240,000 oz Au.

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